New Jersey Public Employees Retirement System (PERS) vs New Jersey Teachers Pension & Annuity Fund (TPAF)
Side-by-side pension health comparison from DOL and public plan data
New Jersey Public Employees Retirement System (PERS) (C) and New Jersey Teachers Pension & Annuity Fund (TPAF) (C) are close on the LakeQuality rubric. Funding ratios sit at 52% and 48% respectively — within a few points of each other.
With grades this close, the comparison turns on plan-specific factors: status (active vs frozen), participant maturity, sponsor financial health, and multi-year trajectory rather than the headline composite.
Verdict
New Jersey Public Employees Retirement System (PERS) has a stronger Pension Health Score of 54/100 (C) compared to New Jersey Teachers Pension & Annuity Fund (TPAF) at 51/100 (C). Funding ratios differ by 4.2 percentage points (52.3% vs 48.1%). New Jersey Public Employees Retirement System (PERS) covers 425,000 participants.
| Metric | New Jersey Public Employees Retirement System (PERS) | New Jersey Teachers Pension & Annuity Fund (TPAF) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 54/100 (C)* | 51/100 (C) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 52.3%* | 48.1% |
| Total Assets | $34.0B | $28.5B |
| Total Liabilities | $65.0B | $59.3B* |
| Unfunded Liability | $31.0B | $30.8B* |
| Participants | 425,000 | 268,000 |
| 1-Year Investment Return | 5.1%* | 4.9% |
| Plan Type | public | public |
| PBGC Risk Level | high | high |
| Sponsor | State of New Jersey | State of New Jersey |
New Jersey Public Employees Retirement System (PERS) has a stronger Pension Health Score of 54/100 (C) compared to New Jersey Teachers Pension & Annuity Fund (TPAF) at 51/100 (C). Funding ratios differ by 4.2 percentage points (52.3% vs 48.1%). New Jersey Public Employees Retirement System (PERS) covers 425,000 participants.